WEEKLY SCRAP WRAP: Global scrap prices slide on thin demand

Global ferrous scrap prices were on a downward trend this week due to thin demand from steel mills, which expected spot prices to continue to fall in the near term. Spot prices in Vietnam bucked the trend, stable despite limited offers for HMS 1&2 (80:20) materials.

  • Turkey scrap demand limited
  • US ferrous scrap market likely to continue downtrend
  • Kanto Tetsugen tender concludes at ¥23,300 ($209) per tonne fas Tokyo Bay
  • Taiwan to see electricity rationing from May
  • General election process in India damps demand.

Turkey imports
Turkish ferrous scrap prices fluctuated but moved downward throughout the week on limited demand from the country’s steel mills on most days. Those mills faced thin demand for their downstream steel products and were looking for low-priced materials.
Fastmarkets’ daily index for Northern Europe-origin HMS 1&2 (80:20) ended the week down at $303.41 per tonne cfr on April 12, having been calculated at $307.00 per tonne cfr on April 8.

The daily index for US-origin HMS 1&2 (80:20) ended the week down at $307.48 per tonne cfr on April 12, having been at $311.07 per tonne cfr on April 8.
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Published

Cem Turken

Paul Lim

Carrie Bone

April 12, 2019

18:37 GMT

London, Singapore, Mugla, New York